Laserfiche WebLink
City Council Minutes Page 10 <br />June 15, 2020 <br />----------------------------- <br />payments for one year from the due dates in the Youth Athletic Complex and <br />Oak Knoll Agreement. Motion carried 5-0. <br /> <br />Moved by Councilmember Wagner and seconded by Councilmember <br />Christianson to defer the Elk River Youth LaCrosse’s 2020, 2021, and 2022 <br />field lighting payments for one year from the due dates indicated in the <br />agreement regarding the Oak Knoll Athletic Complex. Motion carried 5-0. <br /> <br />8.4 Comprehensive Plan Consultant <br /> <br /> Mr. Carlton presented the staff report. <br /> <br />Moved by Councilmember Westgaard and seconded by Councilmember <br />Christianson to select Houseal Lavigne to complete the 2020 Comprehensive <br />Plan Update. Motion carried 5-0. <br /> <br />Moved by Councilmember Wagner and seconded by Councilmember Mayor <br />Dietz to appoint Councilmembers Christianson and Westgaard to serve on <br />the Comprehensive Plan Advisory Committee (CPAC). Motion carried 5-0. <br /> <br />9.1 Tax Increment Financing (TIF) and Property Tax Abatement <br /> Overview <br /> <br />Ms. Othoudt presented on Tax Increment Financing (TIF) and property tax <br />abatement along with Mikaela Huot of Baker Tilly Municipal Advisors, LLC. <br /> <br />Mayor Dietz questioned what should be used as a guide as to how much tax <br />abatement a city should have. Ms. Huot explained there is a statutory limit of not <br />more than 10% of a city’s next tax capacity can be tax abatement. She noted this <br />limit is difficult to reach. She indicated there is no statutory limit for TIF, but some <br />cities have established a desired threshold. She stated she will gather information on <br />a comparison of capture tax capacity in TIF districts in the state and will forward <br />that information when she receives it. She stated many cities are focused on what the <br />public to private percentage ratios are for projects and some cities have set limits and <br />some compare public to private participation ratios for each project. <br /> <br />Councilmember Wagner indicated one reason for her requesting this discussion is to <br />determine whether the Council should be reviewing applications individually or <br />provide an overall Council direction for staff to pass on when people inquire about <br />TIF. <br /> <br />Mayor Dietz stated he believes the Council should review applications individually to <br />make sure they have gone through the process and qualify for the financing. He <br />noted applications that do not meet the qualifications may not be brought to the <br />Council. He cautioned about setting limits as he would hate to set a limit and have to <br />turn down a large project. Councilmember Westgaard didn’t believe the city has <br />overextended on TIF and would find it difficult to tell people we don’t want TIF <br /> <br />